Synopsys, Inc. (NASDAQ:SNPS) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.85-0.88 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.77. The company issued revenue guidance of $665-680 million, compared to the consensus revenue estimate of $638.92 million.Synopsys also updated its FY17 guidance to $3.21-3.26 EPS.

Synopsys, Inc. (NASDAQ:SNPS) opened at 70.66 on Friday. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 40.84 and a beta of 0.87. Synopsys, Inc. has a 52-week low of $43.17 and a 52-week high of $73.08. The company’s 50-day moving average price is $62.55 and its 200-day moving average price is $59.74.

Synopsys (NASDAQ:SNPS) last released its quarterly earnings results on Wednesday, February 15th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.16. The company earned $652.80 million during the quarter, compared to the consensus estimate of $637.73 million. Synopsys had a return on equity of 11.51% and a net margin of 11.01%. During the same quarter in the prior year, the company posted $0.68 EPS. Analysts predict that Synopsys, Inc. will post $3.20 EPS for the current year.

Earnings History and Estimates for Synopsys (NASDAQ:SNPS)

Several brokerages recently weighed in on SNPS. Needham & Company LLC increased their target price on Synopsys from $66.00 to $76.00 and gave the company a buy rating in a research note on Thursday. Benchmark Co. restated a hold rating and set a $60.00 target price on shares of Synopsys in a research note on Wednesday, November 9th. Zacks Investment Research upgraded Synopsys from a hold rating to a strong-buy rating and set a $70.00 target price for the company in a research note on Saturday, December 3rd. Finally, RBC Capital Markets increased their target price on Synopsys from $66.00 to $77.00 and gave the company an outperform rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Synopsys presently has a consensus rating of Buy and an average target price of $68.67.

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Synopsys Company Profile

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

5 Day Chart for NASDAQ:SNPS

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